The Global Critical Care Diagnostics market size is anticipated to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising technological advancement as well as rising prevalence of infectious diseases and chronic disorders globally.
Critical care refers to the fulfillment of the requirement of patients who need immediate medical attention due to life-threatening health conditions. In such conditions, patient are usually facing rapid deteriorating of vital organs or are at risk of serious consequences. Critical care diagnostics tests are extensively performed for intensive care and diagnosis of life-threatening diseases of patients. These tests are widely adopted due to certain advantages such as easy-to-use, rapid, and cost effective with accurate results. Across the globe, the critical care diagnostics are used in operating room, emergency room, and intensive care units (ICUs).
Rising cases of serious illness, which require admission in the emergency room or urgent medical services present major driving factors for the market expansion. As per a global health data, around 20% of among those who are admitted in hospitals are rushed to emergency rooms. Rapid growth of various types of technological advancement is another major factor boosting the market. For instance, Abbott combines the i-Stat blood gas analyzer, a self-contained cartridges, with electrochemical detection and micro fluidic components to give accurate and sensitive results.
Increasing awareness for early diagnosis and treatment among people and rapid development of accurate and cost-effective diagnostic tests are expected to boost the market growth.Wide adoption of data management and connectivity through inter-operability to electronic health record (EHR) is anticipated to push the market expansion.
Increasing adoption of remote communications and availability of advanced telehealth services are projected to drive the market growth in the coming years.
Lack of skilled professionals for critical care diagnostics and high cost of tests act major challenges that can hamper the market expansion during the forecast period.
Ongoing extensive R&D activities to help develop several innovative diagnostic kits is anticipated to create lucrative opportunities for the market players.
Scope of the Report
The report on the global critical care diagnostics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Critical Care Diagnostics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Test Types (Routine & Special Chemistry, Flow Cytometry, Hematology, Immunoproteins, Microbial & Infectious Diseases, Coagulation Testing, and Others) and Applications (Operation Rooms, Emergency Rooms, and Intensive Care Units) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Abbott Laboratories; Alere, Inc.; Beckman Coulter, Inc.; Becton, Dickinson and Company; Bayer AG; F. Hoffmann-La Roche Ltd.; and Siemens Healthineers |
Immunoproteins segment is projected to hold a key market share
Based on test types, the critical care diagnostics market is segmented into routine and special chemistry, flow cytometry, hematology, immunoproteins, microbial & infectious diseases, coagulation, and others. The immunoproteins segment is expected to represent a key share of the market during the forecast period owing to increasing rapid and accurate diagnosis also reduction in recovery time of patients.
Growing awareness about better healthcare among patients and increasing knowledge of physicians for target therapy are factors responsible for the segment growth. Additionally, immunoproteins tests is widely used for several applications to detect numerous health conditions that are related to weakening immune system.
Emergency rooms segment is expected to expand at a rapid pace
On the basis of applications, the market is divided into operation rooms, emergency rooms, and intensive care units (ICUs). The emergency rooms segment is expected to expand at rapid pace during the forecast period owing to the rising incidence of patients admitting for emergency services. Increasing use of advanced diagnostic tools in hospitals and continuous upgrade of emergency rooms to meet the needs of patients having immediate medical attention are likely to propel the segment growth.
Asia Pacific is anticipated to dominate the market
In terms of regions, the critical care diagnostics market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the global market and estimated to hold a large market share in the coming years. Key factors that fuel the regional market growth are the presence of major global players, rising number of geriatric population, and early adoption of advanced technology of critical care diagnostic devices.
On the other hand, the market of Asia Pacific is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to improved healthcare infrastructure and growing number of specialized hospitals for intensive care especially in major economies such as India and China. Additionally, rising improvement of the primary healthcare systems and extended the insurance coverage of patients are the new health reforms that boost the regional market growth.
Key players competing in the critical care diagnostics market include Abbott Laboratories, Alere, Inc., Beckman Coulter, Inc., Becton, Dickinson and Company, Bayer AG, F. Hoffmann-La Roche Ltd., and Siemens Healthineers.
Some of key players are actively focusing on several market strategies such as mergers, acquisitions, joint ventures, partnerships, technological advancements, collaborations, capacity expansion, and new product development to increase their market shares. For instance, Abbott acquired Alere, a healthcare management company that provides point-of-care solution, in February 2016.
Key players competing in the critical care diagnostics market include Abbott Laboratories, Alere, Inc., Beckman Coulter, Inc., Becton, Dickinson and Company, Bayer AG, F. Hoffmann-La Roche Ltd., and Siemens Healthineers.
Some of key players are actively focusing on several market strategies such as mergers, acquisitions, joint ventures, partnerships, technological advancements, collaborations, capacity expansion, and new product development to increase their market shares. For instance, Abbott acquired Alere, a healthcare management company that provides point-of-care solution, in February 2016.
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